Investment Company PLC Dividend Declaration (2829J)
April 09 2020 - 2:00AM
UK Regulatory
TIDMINV
RNS Number : 2829J
Investment Company PLC
09 April 2020
9 April 2020
The Investment Company plc
("The Investment Company" or the "Company")
Interim Dividend Declaration and Update
Dividend Decl a ration
The Company announces that it has declared an interim dividend
in respect of the financial year ending 30 June 2020 of 1.00 pence
per ordinary share, payable on 29 May 2020 to ordinary shareholders
on the register on 24
April 2020. The ex-dividend date will be 23 April 2020.
Update
In light of the current Covid-19 situation and the impact it has
had on global markets, the Board's priority is to ensure that, as
far as possible, the Company's capital is preserved. As previously
stated, the Board believes individuals' capital is scarce, and as
such should be respected for its irreplaceability.
The dividend that has been declared today is being paid from
income received prior to the emergence of the Covid-19 pandemic.
However, since July 2018, a key objective of the Board has been to
enable the income received by the Company to cover both its
operating costs and the cost of dividends paid. Since the beginning
of the current financial year, on 1 July 2019, the Company has paid
out dividends of 7.5 pence per ordinary share and this, together
with the 1 pence announced today, is covered by the Company's net
income.
With uncertainty surrounding future dividend payments from
companies in The Investment Company's portfolio and the decline in
market prices, the Board is consulting regularly with the
Investment Manager regarding anticipated income receipts and
portfolio valuations with a view to determining the level of future
dividends. A further update will be provided in due course.
Enquiries:
The Investment Company plc theinvestmentcompany@investor-focus.co.uk
Ian Dighe (Chairman)
Martin Perrin (Non-executive Director)
Tim Metcalfe (Non-executive Director)
Maitland Administration Services
Limited 01245 398 950
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END
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